Geopolitics

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A discussion of geopolitical trends from history and today.

geopolitics (jē″ō-pŏl′ĭ-tĭks) noun

The study of the relationship among politics and geography, demography, and economics, especially with respect to the foreign policy of a nation.

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Chinese Refiners Slash Run Rates as Sanctions Cripple Russian Crude Supply (oilprice.com)

submitted 1 week ago by [email protected] to c/[email protected]

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cross-posted from: https://lemmit.online/post/5127234

Chinese Refiners Slash Run Rates as Sanctions Cripple Russian Crude Supply | OilPrice.com

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The original was posted on /r/ukrainianconflict by /u/Sn0wDazzle on 2025-02-09 03:37:42+00:00.

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[–] [email protected] 1 points 1 week ago

China's independent refiners have slashed their processing rates to the lowest level in nearly five years as costs to procure crude soared amid dwindling Russian supply following the latest U.S. sanctions.

Crude supply became more expensive for the private Chinese refiners, concentrated in the Shandong province, and dragged refining margins to a loss.

The independent refiners, commonly known as teapots, have slashed run rates, to just 43.64% of processing capacity as of this week, according to data from industry consultancy Mysteel Oilchem reported by Bloomberg. This is the lowest average crude processing rate since the start of the Covid pandemic in March 2020.